Amid Tensions With India, China Plans to Invest $1.5 Bln in Hydro Power Project in Pakistani Kashmir
10:05 GMT 06.07.2020
New Delhi (Sputnik): China and Pakistan have signed an agreement to build a $2.4 billion hydro power project at Kohala in Kashmir. The project is part of China's multi-billion dollar Belt and Road Initiative which aims to create more efficient commercial links between Europe, Asia, and Africa.
In a move that could see the country benefit from cheaper electricity, Pakistan's government on Monday announced a deal on the Azad Pattan hydro project, located on the Jhelum River in the Sudhanoti district of Kashmir.
The dam is part of the China- Pakistan Economic Corridor - a flagship infrastructure project conceived by Chinese President Xi Jinping, as a part of China's multi-billion dollar Belt and Road Initiative which aims to create more efficient commercial links between Europe, Asia, and Africa.
The project is being developed by the Kohala Hydropower Company, which is a subsidiary of China's Three Gorges Corporation.
The signing ceremony was attended by Pakistan's Prime Minister Imran Khan and Chinese Ambassador Yao Jing.
Asim Saleem Bajwa, special assistant to Prime Minister Imran Khan on information and broadcasting, described the deal as another milestone for the country.
"We move towards cheaper and and greener power," he added.
The signing comes at a time when India and China are involved in talks to disengage from the Galvan Valley in Ladakh, where 20 Indian soldiers died following a skirmish with Chinese troops on 15 and 16 June.
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